The ballyhooed meeting between key Bancroft family members (directors all)--Chris Bancroft, Leslie Hill and Elizabeth Steele--and Rupert Murdoch went off as planned. Murdoch's son James, who runs British Sky Broadcasting Group, was also scheduled to attend. It seems that the mating period is underway. Murdoch has reportedly made clear that he will not give up editorial control. One wildcard in all this is the union representing Dow Jones employees. It is against a deal and has announced that it has retained Ownership Associates of Cambridge, Mass., to reach out to alternative investors. Many are hoping, including a lot of Wall Street Journal employees, that a more news-friendly competitive bidder emerges. But the price seems awfully high. Stay tuned.

For more:
- here's an AP update